SkyCity Entertainment Group on NZICC Fire & Trading Update

  • Nov 07, 2019 AEDT
  • Team Kalkine

SkyCity Entertainment Group Limited (ASX: SKC) revealed its Investor Day Presentation today. The presentation included an update on the New Zealand International Convention Centre (NZICC) and Horizon Hotel project following the recent fire at the NZICC.

Major Highlights of the Presentation:

  • SkyCity and Fletcher Construction committed to delivering the NZICC to the standard agreed with the NZ Government
  • YTD to 3 November 2019, normalised group revenue (including IB) flat over pcp on a like-for-like basis.
  • SKC expects some growth in FY20 group normalised EBITDA vs pcp.
  • The company is assessing the financial impact of NZICC fire on reported and normalized NPAT.
  • Medium term outlook is dependent of completion of major projects.

By 1:33 PM AEST, SKC was trading at $3.58, up by 0.28% relative to the previous close.

 

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